Who Holds the Title of the World’s Richest Person? Discover the 2025 Rankings!

• Elon Musk reclaimed the title of the world’s richest person with a net worth of $342 billion.
• The Duff brothers, James and Thomas, each with a net worth of $3.3 billion, are the richest individuals in Mississippi.
• A record 3,028 people made it onto the Forbes 2025 billionaires list, with the average wealth set at $5.3 billion.

Forbes has recently unveiled its list of the wealthiest individuals in the world, with a well-known billionaire reclaiming the top spot for the first time since 2022.

Elon Musk has once again been recognized as the richest person in the world, marking a significant return after previously being dethroned.

This year, a record 3,028 individuals made it onto Forbes’ annual list for 2025, an increase of 247 compared to last year. The average fortune now stands at $5.3 billion, up $200 million from 2024.

The United States boasts 902 billionaires, while China (including Hong Kong) has 516 and India claims 205.

Mississippi has two billionaires represented on the list.

According to Forbes, the favorable environment in the United States has contributed to wealth growth, especially highlighted by Donald Trump’s presidency.

Here’s what you need to know about the richest person in the world and the wealthiest individuals from Mississippi.

Who is the richest person in the world?

Elon Musk holds the title of the world’s richest individual.

His various ventures, including artificial intelligence (xAI), social media (X), electric vehicles and energy (Tesla), and space exploration (SpaceX), have propelled his wealth to $342 billion, as reported by Forbes.

“This time around, he’s granting the billionaire class unprecedented influence over the government,” said Forbes. “(Trump’s) right-hand man is the world’s richest person.”

Who are the richest people in Mississippi?

Brothers James, 64, and Thomas Duff, 68, are both ranked 1,108 on the list, each with a net worth of $3.3 billion. They live in Hattiesburg.

Their father, Ernest Duff, launched Southern Tire Mart in the early ’70s, selling it in 1998 before the brothers repurchased it in 2003. As per Forbes, this remains their primary business, which sells over 4 million new tires annually and 2.5 million tire retreads. Their expansion efforts include working with Flying J truck stops.

The duo co-established Duff Capital Investors in 2007, now generating over $5 billion in revenue through more than 20 companies, including KLLM trucking, Frozen Food Express, TL Wallace Construction, Magnolia Grille, and Magnolia Inn & Suites. They also have investments in various car dealerships and real estate.

Tom Duff has been a member of the Mississippi Power Company Board of Directors since his election in 2018. He was appointed by former Gov. Phil Bryant to the Mississippi Institutions of Higher Learning Board of Trustees from May 2015 to May 2024.

The Duff brothers have been featured on the Forbes billionaires list since 2019, starting with a net worth of $1.2 billion.

Mississippi native Oprah Winfrey also made the list this year with a net worth of $3 billion.

Who are the Top 10 richest people in America?

According to Forbes, the top ten richest individuals and their net worth are:

1. Elon Musk: $344B.
2. Jeff Bezos: $207.5B.
3. Mark Zuckerberg: $200.6B.
4. Larry Ellison: $175.8B.
5. Warren Buffett: $166.7B.
6. Larry Page: $130.3B.
7. Sergey Brin: $124.9B.
8. Steve Ballmer: $114.6B.
9. Rob Walton and family: $107.5B.
10. Bill Gates: $107B.

Who are the richest people in the world? See photos

Contributing: Lici Beveridge

Russ Wiles, a business writer and columnist, addresses various financial and economic matters for The Republic and the USA TODAY Network. Contact him at russ.wiles@arizonarepublic.com.

Bonnie Bolden is the Deep South Connect reporter for Mississippi with Gannett/USA Today. Reach her at bbolden@gannett.com.